In the News—Week of October 5, 2020
Around the Nation
Following Emmy sweep by series, ‘Schitt’s Creek’ motel to go up for sale
Sure, the audience for the Emmys has shrunk to the size of a popular podcast. And with so many categories, Emmys have all the exclusivity of participation awards at a grad-school track meet. But perhaps they will have some value for Jesse Tripping, an Ontario man who owns the motel featured in the series “Schitt’s Creek.” The series capped its run by winning nine Emmys. Tripping is about to list the motel for sale, the New York Post reports. He’s been putting off putting it up for sale — but not because he was waiting for the award show. With the Covid-19 pandemic this isn’t the best time to be selling a motel.
Energy & Environment
Arizona Public Service starts $51.9 million efficiency program
Arizona Public Service Company has launched a $51.9 million energy efficiency package this week to help families and small businesses, Daily Energy Insider reports. The offer was OK’d by the Arizona Corporation Commission. The plan allows up to $9,000 for weatherization for low-income households. The company is offering a 500% increase in HVAC replacement incentives as well as incentives for other equipment such as smart thermostats.
Texas
With no ‘plan B,’ redevelopment of Barbara Jordan Post Office forges on
Lovett Commercial’s redevelopment of the former Barbara Jordan Post Office was relying on momentum of the Houston commercial real estate market. That momentum was squelched by the pandemic. But the company had no choices but to push ahead, the Houston Chronicle reports. “People dropped off and went radio silent for the months of March and April,” Lovett Commercial’s director of development Kirby Liu says. Work has continued and the project could be available for eateries, offices and shops to build by early next year. “There’s no plan B,” Liu says. “We’re going to push forward.”
Uber is looking for tenants to fill more than four floors of office tower
Uber bit off more than it can chew. The ride-sharing company is trying to sublease most of its leased space in the Epic office tower on Pacific Avenue, The Dallas Morning News reports. The company took more than 160,000 square feet last year and announced it wanted more in the tower next door. But that is a bit much. “Due to the pandemic, we don’t expect to use all of our current floors between now and the completion of the permanent space in Building II,” Chris Miller, Uber senior manager for public affairs, said in a statement. “We are currently exploring different uses for parts of our existing offices. We remain committed to our long-term plan of expanding our presence in Dallas and are excited about our future in Texas.”
Arizona
Why Greater Phoenix remains a hot market for industrial space
The industrial market in the Phoenix area is benefiting greatly from its location and a shift from retail to e-commerce, AZ Big Media reports. About 35 million people live within one day’s drive of the Valley of the Sun. “Amidst the pandemic, new industrial projects continue to be announced, which demonstrates how the Valley is well positioned to land major deals,” Valley Partnership’s CEO, Cheryl Lombard, says.
Mexico
Mexico counting on travelers from U.S. Canada to revive tourism industry
Tourism authorities in Mexico are banking on U.S. and Canadian visitors to get tourism industry going again, Mexico News Daily reports. Tourists from those two countries make up about 2/3 of Mexico’s visitors. Tourism Minister Miguel Torruco says the pandemic has changed the way people travel with few wanting to take a flight of more than four to five hours. That would make Mexico a prime spot for vacations, he says. “There could be a pretty interesting rally, especially as Canadians have their winter season from late October to mid-April,” Torruco says.
